Marketmind: China-Taiwan tensions loom ever larger

authored by Jamie McGeever

( Reuters ) Jamie McGeever provides a forecast for the day in Asian markets.

On Monday, the dramatic rise in China-Taiwan tensions will loom big over Asia, possibly escalating market volatility in a session when trading volume is also expected to be lower due to the closure of much of Europe for the Easter Monday holiday.

Investors’ focus may be drawn away from the geopolitics on Monday’s’s economic data entry by Japanese current accounts figures for February and the potential release of Chinese credit, product development, and money supply data for March.

The remainder of the week’s’s major Asian economic and policy events will include South Korea and Singaporean interest rate decisions, Indian inflation, American poverty, and Chinese CPI and PPI prices and trade balance.

The March U.S. consumers price inflation on Wednesday will have a significant impact on market direction nationally this week. Core remains thick, but annual inflation is anticipated to slow down. In fact, title is anticipated to be below core.

The most recent U.S. employment data released on Friday — on balance, a fairly reliable report — didn’t significantly alter rate traders’ expectations for the Fed. They continue to believe that the Fed has reached its peak and may reduce rates this year by at least 50 basis points.

This year marks the start of the first quarter U.S. earnings season, with great banks like JPMorgan and Citigroup reporting on Friday. Analysts anticipate a 5.2 % decline in S & P 500 earnings from Q1 of last year.

However, more instantly, focus will be placed on the last day of China’s’s three-day military drills around Taiwan on Monday.

China will simulate precision strikes on Taiwan and surround the island with about 10 warships and dozens of fighter jets as part of the exercises, which Beijing began after Taiwan’s’s President Tsai Ing – wen met with U.S. House Speaker Kevin McCarthy in California last week.

The U.S. ambassador in Taiwan declared on Sunday that it was” comfortable and confident” it had enough resources and capabilities locally to maintain peace and stability and was monitoring China’s’s maneuvers.

In the meantime, Foxconn announced on Sunday that it intends to spend$ 820 million over the next three years on new manufacturing facilities in southern Taiwan to further its goals for electric vehicles ( EV ).

Foxconn, a significant company to Apple Inc. and maker of iPhones, has high aspirations for the EV market as it works to expand its customer base.

Below are three significant developments that might give markets more manner on Monday:

– China’s’s military drills around Taiwan on day three

– Original account for Japan as of February

China’s’s credit, loan growth, and money supply ( March)

(authored by Jamie McGeever; Editing by Josie Kao)

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